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General Cable Corp. (NYSE: BGC), Highland Heights, KY, reported sales for the third quarter of $1.5 billion, flat to the prior year. Profit was $31.4 million.
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In North America, industrial slowdown broadly reduced demand for wire and cable products during the third quarter of 2012 versus the second quarter of 2012. Demand for electrical infrastructure products including industrial and specialty cables, particularly those used in natural resource extraction and transit applications, remains relatively stable year over year.
In Europe and the Mediterranean, increased submarine and land based turnkey project activity in the third quarter versus last quarter was more than offset by the very weak domestic demand environment in Iberia coupled with seasonal demand patterns including the August summer holiday period throughout much of Europe.
In ROW (Rest of World), volume improved in the third quarter of 2012 as previously delayed aerial transmission projects in Brazil and high voltage projects for export from Thailand were shipped. The Company also benefited from electrical infrastructure investment and construction activity in Latin America.